anything else. 1. Soon after beginning a new job, Gerald went on a shopping spree and opened 5 different lines of credit and purchased the following items: Item Price Monthly Payment $165.00 $36.80...

Extracted text: anything else. 1. Soon after beginning a new job, Gerald went on a shopping spree and opened 5 different lines of credit and purchased the following items: Item Price Monthly Payment $165.00 $36.80 $73.60 $94.00 $89.30 Sofa, easy chairs Dishwasher Color Television set $1,800 $400 $800 $1,000 $950 Stereo Exercise Equipment 4,950 What was the total dollar value of Gerald's credit purchases? To cover these purchases, how much must Gerald pay out in monthly payments? us.t Gerald brings home $832 a month. What was the maximum amount Gerald should have spent for monthly payments?. By how much has Gerald exceeded this amount? What percentage of his take-home pay has Gerald committed to credit payments? (total debt payments / net monthly income) 2. Nancy and Thomas have a combined monthly net income of $1800. What is the most they can afford to pay for installment and credit card payments per month? (Show your work).